Gold slides on rate concerns, geopolitical tensions

A photo of a gold bar with a US dollar behind it. PHOTO: ANADOLU AGENCY KARACHI: Gold prices in Pakistan declined sharply on Wednesday, tracking losses in the international market, where bullion came under pressure amid expectations that war-driven inflation could keep interest rates elevated, while investors monitored escalating geopolitical developments in the Middle East…

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Memon, Naqvi agree on federal-provincial coordination to tackle national issues

Meeting discussed efforts to curb drug trafficking, maintain law and order in Karachi, other major cities of Sindh Senior Sindh Minister Sharjeel Inam Memon and Interior Minister Mohsin Naqvi meet in Islamabad. SCREENGRAB KARACHI: Interior Minister Mohsin Naqvi and Sindh Senior Minister Sharjeel Inam Memon agreed on Thursday that effective coordination and cooperation between the…

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‘Our position on the Abraham Accords is clear,’ FO says, reiterates no policy shift

Says 10 Pakistanis still in custody of Somali pirates, contact had been established with the Somali government Foreign Office Spokesperson Tahir Andrabi speaking at the FO weekly press briefing. SCREENGRAB Pakistan on Thursday reiterated that its position on the Abraham Accords remains unchanged, stressing that the country continues to support a free, independent and sovereign Palestinian…

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Trade deficit narrows 39% as imports fall

KARACHI: Pakistan’s merchandise trade deficit narrowed by 39.46% month-on-month in May 2026, driven by a sharp decline in imports and a rise in exports, according to data released by the Pakistan Bureau of Statistics. The trade deficit stood at Rs721.6 billion in May 2026, compared with Rs1.19 trillion in April 2026. This represents an improvement…

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150 ICT cops deployed in G-B

ISLAMABAD: With general elections in Gilgit-Baltistan (G-B) scheduled for Sunday, large-scale security arrangements are being put in place, including the deployment of thousands of police personnel from Punjab and the federal capital. According to officials, in addition to 6,000 personnel from the Punjab Police, 150 policemen from the security division of Islamabad Capital Territory Police…

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PSX extends losses on Middle East tensions

KARACHI: Pakistan’s stocks extended their losing streak on Wednesday as investors resorted to profit-taking amid a lack of positive triggers and lingering concerns over geopolitical tensions in the Middle East, dragging the benchmark KSE-100 index down by more than 830 points. “Another day was lost to geopolitical uncertainty,” said Ali Najib, Deputy Head of Trading…

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Lebanon, Israel agree on creating ‘pilot zones’ to place Lebanese army in control

Ceasefire contingent on complete cessation of Hezbollah fire, evacuation of all operatives from South Litani Sector Lebanon and Israel have agreed to renew their fragile ceasefire and establish “pilot zones” placing the Lebanese Armed Forces in exclusive territorial control, with all non-state actors excluded, according to a joint statement released on Wednesday. “The ceasefire is…

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Bilawal urges fast-tracking Diamer-Bhasha Dam

Vows resettlement of displaced communities if party forms government in Gilgit-Baltistan DIAMER: PPP Chairman Bilawal Bhutto Zardari on Wednesday called on the federal government to expedite the completion of the Diamer-Bhasha Dam and pledged to resolve the resettlement issues faced by communities displaced by the mega project if his party wins the June 7 elections….

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South Africa anti-migrant mobs roam streets

. GANSBAAI: Hundreds of foreigners fearing for their lives have taken shelter in community halls on South Africa’s south coast, saying mobs of locals were going door-to-door telling them to leave the country. Mostly nationals of Malawi and Mozambique, many told AFP they had fled their homes at the weekend and spent nights in the…

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